Fortuna Silver Mines (TSE:FVI) Reaches New 52-Week High – Here’s What Happened

Fortuna Silver Mines Inc. (TSE:FVI) (NYSE:FSM)’s share price hit a new 52-week high on Monday . The company traded as high as C$17.14 and last traded at C$17.00, with a volume of 344402 shares changing hands. The stock had previously closed at C$15.97.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Scotiabank upgraded Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. National Bankshares upgraded Fortuna Silver Mines from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$14.25 to C$15.00 in a report on Tuesday, November 25th. BMO Capital Markets lifted their price objective on Fortuna Silver Mines from C$15.00 to C$17.00 in a research report on Friday, January 16th. Finally, Canaccord Genuity Group upped their target price on shares of Fortuna Silver Mines from C$10.50 to C$15.00 in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$13.50.

Fortuna Silver Mines Trading Down 1.5%

The company’s fifty day simple moving average is C$13.61 and its two-hundred day simple moving average is C$11.80. The company has a market capitalization of C$4.80 billion, a price-to-earnings ratio of 21.26 and a beta of 1.72. The company has a quick ratio of 1.15, a current ratio of 1.94 and a debt-to-equity ratio of 13.30.

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.17 EPS for the quarter. The business had revenue of C$350.00 million during the quarter. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 1.91%. Research analysts forecast that Fortuna Silver Mines Inc. will post 0.7856273 earnings per share for the current fiscal year.

Insider Activity at Fortuna Silver Mines

In other news, insider Luis Dario Ganoza Durant sold 7,000 shares of Fortuna Silver Mines stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of C$13.73, for a total transaction of C$96,110.00. Following the transaction, the insider owned 406,412 shares in the company, valued at C$5,580,036.76. The trade was a 1.69% decrease in their position. Insiders sold a total of 50,000 shares of company stock worth $687,360 over the last quarter. Company insiders own 0.83% of the company’s stock.

Fortuna Silver Mines Company Profile

Fortuna Mining Corp., formerly Fortuna Silver Mines Inc, is a Canada-based precious metals mining company with mines in the Latin America and West Africa regions. It has operated mines in Argentina, Burkina Faso, Cote d’Ivoire, Mexico, and Peru. Its mine products include gold, silver, lead, and zinc. Its mines and projects include Seguela Mine, Yaramoko Mine, Lindero Mine, San Jose Mine, and Caylloma Mine. The Seguela Mine is located in the Worodougou Region of the Woroba District, Cote d’Ivoire, approximately 500 km from Abidjan.